Collections Specialist - Credit Products

Position Title

Location

Job Summary

Job Responsibilities:

JOB RESPONSIBILITIES

Overdraft Monitoring & Reporting: Monitor and report on overdrafts; collaborate with bankers to resolve issues; prepare and distribute daily overdraft summary reports to Senior Management.

Preparation of Charge-Off and Recovery Processing: Maintain and update charge-off, non-accrual, and collection status reports; ensure accurate updates for loan payments, recoveries, and adjustments.

File & Document Management: Maintain physical and digital collection files; track correspondence, payments, and recoveries to ensure compliance and audit readiness and preparing default or demand letters.

Transaction Processing: Process customer deposits, recoveries, and reversals via the Profit Center; verify documentation and scan transaction batches promptly.

Interdepartmental Coordination: Support Lending Operations (C&I) with processing of recoveries, payments, loan maintenance tasks and advising the PCG of the same.

Overdraft Resolution – Auto Pay: Monitor overdrafts due to automatic payments; coordinate with internal departments on payment reversals and account status updates.

Contact customers via phone, email and written notice to follow up on overdue invoices. Negotiate payment arrangements in line with Bank policies. Assist in identifying accounts that require legal action or further escalation.

Collaborate with the Bank’s lawyer and legal team on accounts entering litigation and when necessary, represent the Bank in Court proceedings alongside the Bank’s attorney, providing documentation, account details, and factual information to support the case.

ADDITIONAL ACCOUNTABILITIES

Performs special projects, and additional duties and responsibilities as required.

Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.  Accountable to maintain compliance with applicable federal, state and local laws and regulations.

JOB REQUIREMENTS

Required Qualifications:

Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent 

Minimum experience required: 2+ Years of experience in collections, consumer banking, loan servicing, or credit administration.

Preferred Qualifications:

Education level preferred: College, Vocational or Associates Degree (2 years or equivalent)

Job Competencies:

Excellent organizational and follow-up skills

Strong attention to detail and ability to manage multiple priorities

Effective communication and interpersonal skills

Proficient in Microsoft Excel, Word, and document management tools

Understanding of commercial & consumer lending regulations and recovery practices

Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.

Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.

Physical demands (ADA): No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank